Why fuboTV Stock Is Soaring Today
fuboTV (NYSE: FUBO) stock is seeing big gains in Thursday's trading. The streaming television company's share price was up 11.5% as of 3:15 p.m. ET despite the S 500 index and the Nasdaq Composite index both being down 0.4%.
fuboTV stock is gaining ground today in conjunction with new reports on television ratings for 2024. Sports content, which is the lynchpin of the the company's service offerings, posted another very strong year.
2024 was another great year for sports programming, and fuboTV stock is getting a boost from strong ratings numbers. While there have been recent concerns about ratings for the NBA, the league ended the year on a strong note. As of the most recent update, NBA viewership on ESPN platforms was up 5% year over year. After factoring viewership on the TNT channel, viewership for the league was still down 5% compared to the prior-year period -- but strong performance for games on Christmas helped allay concerns. Prior to the boost from Christmas broadcasts, league viewership had been down 18% year over year.
Source Fool.com
